Traditional IRA contributions can be tax deductible or partially tax deductible based on MAGI. In 2014, an individual with a MAGI of up to $70,000 is eligible for at least partial deductibility. There are no income limits on who can contribute to a traditional IRA.
When the water heater breaks / leaks whatever the pressure tank is going to loose pressure telling the pump to come on and the pump will run continually as it can not build pressure to shut it off.
Another leak can occur at the Heater Core which mostly happens due to a lack of antifreeze in the system. The antifreeze acts as a coolant in the summer as well. Of course, the water pump can also leak at the seal, which also deteriorates.